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24 Cards in this Set
- Front
- Back
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Why have objectives:
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-they provide focus and comm. help orient everyone involved twds one common goal
-serve as criteria for developing and making plans and making decisions; can fill in pieces in a logical way -provide stds and benchmarks for eval returns |
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mtg objectives:
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statements of what is to be accomplished by the overall mktg program.
should be quantifiable (sales vol, ROI, mkt share, profits), realistic, measurable, and attainable |
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IMC obj:
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statements of what the various aspects of the IMC program will accomplish (boost traffic to web site by 20%)
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problems w/sales objectives
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external factors: competition, price policy, dist methods wrong
carry over effect - extended measure effects after campaign is over |
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sales objs are appropriate:
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for direct action promotional efforts that are designed to induce an immed behavioral response:
sales promotion direct response ads retail ads for sales/events when ads play an dominant role in the firms'mktg program and other factors are rel stable when sales effects of an IMC variable can be isolated |
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communication effects pyramid
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awareness
knowledge liking preference trial use |
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DAGMAR
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defining advertising goals for measuring advertising results
model used for setting ad objs and measuring results based on trad response hierarchy models (awareness, comprehension, conviction, action) |
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DAGMAR Objectives
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concrete and measurable comm tasks
well defined target audience benchmark against which to measure results/starting pt degree of change sought specific time pd |
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DAGMAR Diffs
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relies on hierarchy of effects model (doesn't distinguish btwn high/low involvement)
not good enough to change attitudes if doesn't result in change in behavior (purchase) sales objs are what really count research and effort too $$$ too many rules and objs stifle creativity |
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Major budgeting decisions
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establishing size of budget
allocating the budget |
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basic principles of marginal analysis
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increase spending if: incrs cost <incremental MR
dec spending if: incrs cost > incremental MR hold spending if: incrs cost = incremental MR |
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problems w/marginal analysis
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assumes:
sales are the principal obj of ad/promotion sales are the result of only ad/promotion |
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top-down budgeting
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top mgmt sets overall spending limit
promotion budget is sent to stay w/in the spending limit handed down regardless of objectives |
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the affordable method
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what we have to spare/what's left over
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arbitrary allocation method
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no system - seems like a good idea
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% of sales method
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set % of sales/amt per unit (bad for new products)
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competitive parity method
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match competitor/industry avg spending
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ROI method
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spending treated as capital investment
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bottom up budgeting
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1. promo objs are set
2. activities to achieve them are planned 3. cost of activities are budgeted 4. budget approved by top mgmt |
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bottom up budgeting
obj and task method |
1. est objs
2. det tasks to achieve those objs 3. det costs to perform tasks |
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bottom up budgeting
payout planning |
develop a payout plan that est the expected return over 2-3 yrs
good for new products |
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bottom up budgeting
quantitative models |
computer sim models involving multiple regression analysis, using scales as dep variable
not successful so not gen used |
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dividing IMC budget
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client/agency policies
mkt size mkt potential mkt share goals economies of scale |
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ad spending v. competitor's share of voice:
L voice L mkt L voice H mkt H voice L mkt H voice H mkt |
Attack w/lg SOV premium
maintain modest spending premium decrease - find a defensible niche increase to defend |
